SAO PAULO, May 10 (Reuters) - Grupo BTG Pactual SA, Latin America’s No. 1 independent investment bank, is rapidly regaining the ability to generate business flow in core activities after a drastic balance sheet downsizing last year, Chief Executive Officer Roberto Sallouti said on Wednesday.
In a conference call to discuss first-quarter results, Sallouti said efforts to keep costs and banker compensation in check as well as more risk-taking across Latin America were paving the way for BTG Pactual to “increase operational leverage.”
Profit at BTG Pactual between January and March rose at the fastest pace in five quarters after income from sales and trading of currencies, equities and bonds more than doubled in the period. (Reporting by Guillermo Parra-Bernal; Editing by Andrew Hay)